HSBC's Flash China Manufacturing PMI printed at 48.1 (against a hope-strewn 48.7 bounce expectation). This is the lowest in 8 months and among the lowest prints since Lehman. Even the usually silver-lining-seeing HSBC Chief economist had little positive to add, "weakness is broad-based with domestic demand softening further." Early strength in CNY, stocks, and copper is eroding fast.

Across the board ugly...

And in chart format:

From Markit/HSBC: “The HSBC Flash China Manufacturing PMI reading for March suggests that China’s growth momentum continued to slow down. Weakness is broadly-based with domestic demand softening further. We expect Beijing to launch a series of policy measures to stabilize growth. Likely options include lowering entry barriers for private investment, targeted spending on subways, aircleaning and public housing, and guiding lending rates lower.”

Well, all's going according to plan/forecast.China weak, Europe never anything but weak, Oz weakening along with China, and the poor USofA whaddya mean we got a nascent green shoots self-perpetuating recovery?Nope.Even Janet's gonna have to throw in the towel.After she takes all four her feet out of her mouth.

What we got here is a failure to communicate.We're in a Liquidity Trap, which is a Monetary Phenomenon brought about by Non-Monetary Factors.

Go figure.Another speech from the Golf Throne Ought a take care of that, now, shouldn't it?Plus, psychology is so damned good.

Cynical fuck

P/E's expanding with no hope for increased EGrab your income while you can...

My guess is different sort of strike. Against Iran, maybe. Haven't heard much about that with Ukraine and that damned jet going missing, but Israel is up to something. They know what everyone else knows- the playing field is wide open now.

Each day that passes exposes this country for the farce it has become. A banana republic with a bunch of lying crooks at the helm, with a printing machine, and a complicit media - AND nothing more. Putin knows it. He will own us in any event we choose to become involved.

Been out of touch? That was SO last decade thinking. Just as Japan can only copy ideas in the 70's. Where do you think most of our grad students in engineering and physics come from? At our lab, it's Chinese or Spanish being spoken by students.

If China holds strong on no bailouts for "risk taking" bankers, bond holders & shareholders, they will clear the deck of their septic debt, giving rise to real prospects for real, growth again in the future, and will prove that they're 350x more of a "free market" economy than the laughing stock mockery of capitalism than the Bernank or Draghi made of the U.S. or EU economies.

I suspect that they will let the 'right entities' fail while they pick the winners and losers, just like the U.S did with Bear & Lehman. There is no doubt in my mind that China will protect the politically connected 'too big to fails', and I'm sure they have their own version of the Squid and Morgue.

Moral hazard?! Really, at this late date there is concern of moral hazard? One foot already in hell is well past moral hazard. Power concentrated in realtively few hands has allowed them to inflict terminal harm to the world for the sake of their own survival.

As Turd Ferguson has pointed out, the drop in copper prices probably also has something to do with the fact that as of a few days ago there had been zero deliveries on copper contracts at the Comex. When they don't have the product to deliver they go for the try to scare buyers away from taking delivery gambit by attacking the price.

Gold is sucking ass, even with BI's headline about Russia preparing to invade Ukraine. I guess Chinese economic collapse and geopolitical turmoil is good for some NASDAQ and S/P futures overnight ramp with a suppression of Gold.

so everything is bad in china but still good in the usa? i get it. with the world markets tanking the only road to atke is back to the dollar. your choice is debt, equity or cash. gold and silver is the under the table option.

Shortened delivery times is a negative, even though they don't show it as such -- generally it means increased availability, which can be due to higher production, or decreased demand. In this case, decreased demand is the obvious reason.

Yet another magical middle of the night rampfest and stop run...Chinese Banks rallying like crazy!...and of course Gold and Silver smahed to pieces just as the Golden cross dared to show it self...just so blatant its ridiculous...

I guess Europe will rally of the huge weekend Spanish riots, the National Front wins in France and the vote by Veneto to leave Italy...would make sense...

Ha you globalist shits thought you could make the world into a universal kings and serfs empire and your plans are collapsing before your eyes and your answer is with paper lies. You're pathetic really.

Every country has unofficial lenders, but in China individuals, companies and even local governments who can not get loans from state-controlled banks have been on a borrowing binge from these unofficial sources. China is awash in overcapacity and debt.

After several years of growing debt loads concern is rising the whole unstable pyramid is about to come crashing down bringing China and possibly the global economy with it. The economic efficiency of credit is beginning to collapse in China and the unwinding of China’s giant credit spree could be vary painful. More on China's credit trap below.